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In this video we#39’re going to talk aboutDirect PLUS student loans which area federal loan, but they're a little unique and different from other federal student loans and that#39’re available to the parents dependent undergraduate students, so the loan is actually made to the parent or parent sand not to the student him or herself and just so you know parents that you cannot transfer responsibility of this loan to the students, so this is your loan now if you#39’re a graduate or professional student for example let#39;say you're going to law school or something like that then the loan is made to the student him or herself, so those are the people who are eligible for the loans and just note that PLUS loans are not need-based right so thesearen'’t like subsidized loans or PerkinsLoans whether based on your EFC determines how much you can get so it'snot need-based you basically get as mochas you need in PLUS loans that one caveat is that there is a credit checkmate#39’s required however don't get worried because really what that#39;rechecking for they just want to make sure that you have no adverse credit history so if you have some kind of judgment against you recently or something like that that could be a problem although even if you do have an adverse credit history that will make exceptions in a couple of cases one is if you have anendorserit'’s basically somebody eldest whose creditworthy is basicallylike co-signing for you that#39’re willing to take responsibility for the loan this endorser would in the event that you're done#39’t pay then you can go ahead and get a PLUS loan and also if you have some kind of extenuating circumstances that you can explain or document you might still be able to get a PLUS loan and if you are rejected for a PLU Sloan one of the nice things is that your cap on how much you can get interns of unsubsidized loans will braised a little, so you'll be able tomorrow a little more of unsubsidizedloans one of the best features about Theseus loan is that the maximum amount is the cost of attendance of the school -any other financial aid that you#39;rereceiving so basically that means you could borrow up to the entire cost in order to be able to fund your the edge of your education or your honor daughter#39’s education so let's just want to give you an example make sure you understand so let's say the cost of attendance at the University in question is fifty thousand dollar sand the other aid when you receive the award letter let's say that the other aid that#39’s it could be grants or scholarships or need-based loans let#39;just say that that comes out tothirty-two thousand dollars well you seethed we have a shortfall of eighteen thousand dollars here if we just take the fifty thousand as the cost of attendance minus thirty-two thousand soothe student still needs eighteen thousand dollars, so the nice thing about the PLUS loan is you could borrow up to that eighteen thousand dollars in order to meet that...
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